Northeast

Parkview Provides $18.3M Construction Loan for Self-Storage Conversion Project in Yonkers

by Taylor Williams August 30, 2022

YONKERS, N.Y. — Los Angeles-based Parkview Financial has provided an $18.3 million construction loan for a self-storage conversion project in Yonkers, a northern suburb of New York City. The borrower, KCT Inc., plans to demolish a 9,820-square-foot industrial building at 1060 Nepperhan Ave. and to construct a facility that offers 77,000 square feet of net rentable space across 949 units. CubeSmart will operate the facility, completion of which is slated for late 2023. The general contractor for the project is JCT Development, and the architect of record is ELEVEN18 Architecture.

August 30, 2022

Leasing Activity Massachusetts Northeast Office

Lifeline Signs 41,375 SF Office Lease in Marlborough, Massachusetts

by Taylor Williams August 30, 2022

MARLBOROUGH, MASS. — Lifeline Systems Co., a provider of medical alert devices and technology, has signed a 41,375-square-foot office lease in Marlborough, a western suburb of Boston. The tenant will relocate from nearby Framingham to the third floor of a 116,786-square-foot building at 200 Donald Lynch Blvd. in 2023. Kelleher & Sadowsky represented the landlord, Minardi Ltd., in the lease negotiations.

August 30, 2022

Acquisitions New Jersey Northeast Retail

Jeffery Realty Negotiates Sale of 3,800 SF Retail Building in West Caldwell, New Jersey

by Taylor Williams August 30, 2022

WEST CALDWELL, N.J. — Locally based brokerage firm Jeffery Realty has negotiated the sale of a 3,800-square-foot retail building in the Northern New Jersey community of West Caldwell. The property at 559 Bloomfield Ave. currently houses an AAMCO auto repair shop. Bill Farkas of Jeffery Realty represented the seller in the transaction. Jon Corbiscello of Keller Williams represented the buyer, a private investor. Both parties requested anonymity.

August 30, 2022

Development Industrial Massachusetts Northeast

Onshore Properties to Develop 326,000 SF Industrial Project in Braintree, Massachusetts

by Taylor Williams August 29, 2022

BRAINTREE, MASS. — Locally based developer Onshore Properties will develop Banner Park, a 326,000-square-foot industrial project located on a 130-acre site in the southern Boston suburb of Braintree. Both of Banner Park’s two buildings will total approximately 163,000 square feet and feature clear heights of 40 feet. Combined, the facilities will offer 19 loading docks and parking for up to 560 vehicles. Colliers is marketing the development for lease.

August 29, 2022

Acquisitions Multifamily New York Northeast

Davean Holdings Buys Multifamily Portfolio in Manhattan’s East Village for $25.5M

by Taylor Williams August 29, 2022

NEW YORK CITY — Locally based investment firm Davean Holdings has purchased a portfolio of three multifamily buildings totaling 19 apartments in Manhattan’s East Village area for $25.5 million. The portfolio includes seven commercial spaces. The buildings were completed between 1900 and 1920 and comprise 15 market-rate units and four rent-stabilized apartments. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of local brokerage firm Rosewood Realty Group represented both Davean Holdings and the seller, the Halegua Family, in the off-market deal.

August 29, 2022

Acquisitions Multifamily New York Northeast

Stonehenge NYC Acquires 88-Unit Multifamily Property in Manhattan’s West Village

by Taylor Williams August 29, 2022

NEW YORK CITY — Stonehenge NYC has acquired an 88-unit multifamily property at 780 Greenwich St. in between Bank and Bethune streets in Manhattan’s West Village. The six-story, pet-friendly building was originally constructed in 1950 and spans 70,000 square feet. The deal traded off-market, and the seller and sales price were not disclosed. Stonehenge will also manage the property.

August 29, 2022

Acquisitions Healthcare NAI New Jersey Northeast

NAI Hanson Brokers Sale of 25,944 SF Medical Office Building in Fair Lawn, New Jersey

by Taylor Williams August 29, 2022

FAIR LAWN, N.J. — NAI James E. Hanson has brokered the sale of a two-story, 25,944-square-foot medical office building in the Northern New Jersey community of Fair Lawn. Darren Lizzack and Randy Horning of NAI Hanson represented both the buyer, TYH Acquisitions LLC, and the seller, an entity doing business as 2300 RT 208 LLC, in the transaction. Additional terms of sale were not disclosed.

August 29, 2022

Acquisitions Industrial New York Northeast

Faropoint Acquires 24,000 SF Industrial Building in Brentwood, New York

by Taylor Williams August 29, 2022

BRENTWOOD, N.Y. — New Jersey-based investment firm Faropoint has acquired a 24,000-square-foot industrial building in the Long Island community of Brentwood. The sales price was $4.9 million. According to LoopNet Inc., the property at 180 Heartland Blvd. was built on two acres in 1986 and features a clear height of 18 feet and 1,000 square feet of office space. The seller was not disclosed.

August 29, 2022

Development Life Sciences Massachusetts Northeast

Davis, Boston Development Top Out 224,000 SF Life Sciences Building in Metro Boston

by Taylor Williams August 26, 2022

WATERTOWN, MASS. — A partnership between two locally based firms, Davis Cos. and Boston Development Group, has topped out a 224,000-square-foot life sciences building located at 66 Galen St. in the western Boston suburb of Watertown. Designed by Elkus Manfredi Architects, the project marks Phase I of a 450,000-square-foot campus that will comprise two buildings and multiple acres of open green space. The first building will house six tenant spaces, a fitness center, rooftop terrace, underground parking and ground-floor retail space. Completion is slated for 2023.

August 26, 2022

Acquisitions Massachusetts Northeast Office

Joint Venture Acquires 166,000 SF Office Building in Metro Boston, Plans Life Sciences Conversion

by Taylor Williams August 26, 2022

BEDFORD, MASS. — A joint venture between Redgate, Optimum Asset Management and AEW Capital Management has acquired a 166,000-square-foot office building in the northwestern Boston suburb of Bedford with plans to implement a life sciences conversion program. Tom Sullivan and Ross Fishman of Cushman & Wakefield arranged $82.2 million in acquisition and conversion financing through Ares on behalf of the joint venture. A construction timeline was not disclosed.

August 26, 2022

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